- Invictus Energy has secured approval from the Zimbabwe Environmental Management Age (EMA)
- This approval paves the way for advancing the commercialization of the Mukuyu Gas Field
- Invictus is developing the Eureka Gold Mine Gas-to-Power Project in collaboration with Dallaglio
Harare-Invictus Energy Limited, an Australian Securities Exchange (ASX) and Victoria Falls Stock Exchange (VFEX) listed company, has secured approval from the Zimbabwe Environmental Management Agency (EMA) for the Environmental and Social Impact Assessment (ESIA) of pilot production activities at its Cabora Bassa Project in the first quarter of ended March 31, 2025.
This approval enables Invictus to advance the commercialisation of the Mukuyu Gas Field and other discoveries, positioning the company as a key player in addressing Zimbabwe’s energy challenges.
“The ESIA approval, which builds on the comprehensive 2019 assessment – one of the most detailed environmental studies ever undertaken in Zimbabwe – represents a key milestone for Invictus and paves the way for the commercialisation of gas resources from the Cabora Bassa Basin,” the circular accompanying the quarterly update reads.
The ESIA approval marks a critical step toward unlocking the full commercial potential of the Cabora Bassa Basin, aligning with Zimbabwe’s urgent need for energy self-sufficiency.
Invictus’ efforts include the Eureka Gold Mine Gas-to-Power Project, a collaborative initiative with Dallaglio, the owner of Eureka Mine, and Himoinsa SA, the mine’s onsite power generation provider.
This project aims to harness natural gas from the Mukuyu Gas Field, process it through liquefaction, and transport it to the Eureka Mine to generate reliable, cost-effective electricity, replacing less dependable and more expensive grid power.
Initial feasibility studies highlight the project’s strong economic potential, projecting a look-through gas price exceeding US$10 per gigajoule for gas-fired power generation, based on prevailing grid tariff rates.
This competitive pricing positions the Mukuyu Gas Field as a strategic energy source for the Eureka Mine, and the broader southern African region, where energy demand continues to grow due to lack of a reliable energy sources.
Invictus’ ambitions extend beyond the Eureka project, with plans to explore future gas extraction across Special Grant 4571 (SG 4571) and Exclusive Prospecting Orders (EPOs) 1848 and 1849, potentially scaling up the Cabora Bassa Project’s impact.
The company is actively planning pilot production, focusing on detailed feasibility studies to refine technical and economic aspects.
In collaboration with Himoinsa SA, Invictus is evaluating technology partners for gas liquefaction and logistics to ensure efficient operations.
The company is also engaging with prospective offtake partners domestically and regionally to expand the pilot phase and secure additional buyers for gas and power, amplifying the project’s regional significance.
By developing domestic gas resources, Invictus aims to reduce energy costs, improve power reliability, and stimulate industrial growth in a country where frequent outages hinder progress.
The gas-to-power model supports global trends toward cleaner energy, as natural gas emits fewer greenhouse gases than coal or diesel, which dominate Zimbabwe’s energy mix.
Regionally, the company said it is advancing discussions with additional potential offtake partners to potentially expand the pilot project phase.
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